8222 S Martin Luther King Dr - Apartments FOR SALE


Chicago, IL 60619- Chatham
$1,050,000 USD
312-477-0197
8222 S Martin Luther King Dr, Chicago, IL for Sale
$1,050,000 USD
Apartments - FOR SALE
1/9
null | 7.52% Cap Rate

8222 S Martin Luther King Dr
Chicago, IL 60619
Chatham


HIGHLIGHTS

  • Value add opportunity through cosmetic updates and adjusting to market rents
  • Ability to achieve 11%+ cap rate with light cosmetic renovation
  • Beautiful courtyard for tenants' enjoyment
  • Convenient location with proximity to both I-90 and Metra Electric

OVERVIEW

Interra Realty has been exclusively engaged to market 8222 S. Martin Luther King Dr for sale. The subject investment property is a 21 unit multifamily asset in the Chatham submarket on Chicago’s south side. The property is a midcentury walk-up featuring ample courtyard space and parking for tenant convenience. The unit mix at the property is comprised of 7 ground floor office units and 14 one-bedroom apartments. The property presents a new investor significant value add opportunity through updating finishes in existing apartments and adjusting rents to market rate.

FOR SALE DETAILS

PRICE

$1,050,000 USD

PRICE/SF

$78 USD /SF

# OF UNITS

21

PRICE/UNIT

$50,000

CAP RATE

7.52%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1965

PARKING SPACES

12

LAND DETAILS

LAND ACRES

0.31 AC

LAND SF

13,500 SF

ZONING

CE

APN/PARCEL ID

20-34-123-040-0000

ASK ABOUT THIS PROPERTY

Lucas FrymanInterra RealtyMore Info
312-477-0197

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Lucas FrymanInterra RealtyMore Info
312-477-0197

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.